JOE

EX-99.1

2 joe-ex99d1.htm

EX-99.1

Exhibit 99.1

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THE ST. JOE COMPANY REPORTS THIRD QUARTER AND FIRST NINE MONTHS OF 2026 RESULTS AND INCREASES QUARTERLY DIVIDEND BY 13% TO $0.18 PER SHARE

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Highlights for the third quarter of 2026 as compared to the third quarter of 2025.  The comparability of period over period results is impacted by the sale of the Watercrest joint venture senior living community property in the third quarter of 2025, which contributed $41.0 million of real estate revenue and $19.4 million in gross profit.

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Quarterly net income decreased by 5% to $36.9 million, or $0.65 per share, from $38.7 million, or $0.67 per share.

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Operating income increased by 16% to $61.5 million from $52.9 million.

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Quarterly revenue decreased by 3% to $156.2 million from $161.1 million.

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Real estate revenue decreased by 9% to $76.1 million from $83.8 million.

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Hospitality revenue increased by 9% to a third quarter record of $66.0 million from $60.6 million.

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In the third quarter of 2026, the Company repurchased $27.2 million of the Company’s common stock (412,800 shares), funded $22.8 million in capital expenditures, paid $9.1 million in cash dividends and repaid $8.8 million of debt.

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Highlights for the first nine months of 2026 as compared to the first nine months of 2025:

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Net income increased by 7% to $91.3 million, or $1.60 per share, from $85.7 million, or $1.48 per share.

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Operating income increased by 26% to $134.5 million from $106.8 million.

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Total revenue increased by 8% to $414.1 million from $384.4 million.

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Real estate revenue increased by 12% to $185.4 million from $166.0 million.

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Hospitality revenue increased by 9% to a Company first nine months record of $184.9 million from $169.0 million.

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The Company funded $67.5 million in capital expenditures, primarily for growth, repurchased $64.9 million of the Company’s common stock (988,637 shares), repaid $30.6 million of debt and paid $27.4 million in cash dividends.

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Panama City Beach, Florida – (October 28, 2026) – The St. Joe Company (NYSE: JOE) (the “Company,” “we,” or “our”) today reports third quarter and first nine months of 2026 results.

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Jorge Gonzalez, the Company’s President, Chief Executive Officer and Chairman of the Board, said, “Although the Watercrest joint venture property sale totaling $41.0 million in the third quarter of 2025 boosted prior year results, the third quarter of 2026 had organic growth.  The first nine months of 2026 results exceeded both revenue and net income, when compared to the strong results in the prior year period.  In the third quarter, we moved forward with a second phase of the Latitude Margaritaville Watersound joint venture that will add approximately 3,500 additional homes to the community, for a total of approximately 7,200 planned residential homes.  Through the first nine months of 2026, sales at the Latitude Margaritaville Watersound community increased by 24%, as compared to the same period in 2025.  The growth of the Latitude Margaritaville Watersound community, together with the previously announced new master planned community for PulteGroup in the Pigeon Creek DSAP will create continued demand for the Watersound West Bay Center, the Company’s emerging commercial lifestyle town center planned for a minimum of 500,000 square feet of commercial leasing space.  Currently, there is 69,134 square feet of commercial leasing space under construction adding to the 33,182 square feet of space existing at the center.  The community in Pigeon Creek DSAP is expected to break ground in the first part of 2027 and is planned for approximately 3,000 homes.”

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Mr. Gonzalez continued, “In the third quarter, we completed another strong peak season in the Company’s hospitality segment.  Total revenue increased by 9% to a Company third quarter record of $66.0 million when compared to $60.6 million for the third quarter of 2025.  Our hotel revenue increased by 7% and our club revenue increased by 14%.  In addition to this growth, hospitality gross margins improved to 37% for the third quarter of 2026, from 35% for the third quarter in 2025.  We continue to expand the geography from where our hotel guests travel to our properties, with the highest growth coming from the states of New York, South Carolina, Illinois, and Michigan.  Through the end of September 2026, we had guests from all 50 states stay in our hotels.”

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Mr. Gonzalez concluded, “The Company continues to implement a measured and multi-faceted capital allocation strategy. As a diversified real estate operating company, capital allocation decisions may vary quarter to quarter based on market conditions, the timing of the growth of seeding and harvesting cycles, the timing of open and closed periods, and other factors. For the third quarter of 2026, the Company allocated 40% of capital to stock repurchases, 34% to capital expenditures for growth, 13% to d

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EX-99.1

2 joe-20260429xex99d1.htm

EX-99.1

Exhibit 99.1

THE ST. JOE COMPANY REPORTS FIRST QUARTER 2026 RESULTS AND DECLARES A QUARTERLY DIVIDEND OF $0.16 PER SHARE

Highlights for the first quarter of 2026 as compared to the first quarter of 2025:

●Quarterly revenue increased by 5% to $99.1 million from $94.2 million, the Company’s highest first quarter revenue outside of the one-off timberland sale in 2014.

●Hospitality revenue increased by 13% to a first quarter record of $44.7 million from $39.6 million.

●Real estate revenue increased by 4% to $39.7 million from $38.3 million.

●Quarterly operating income increased by 8% to $18.2 million from $16.9 million.  Equity in income from unconsolidated joint ventures decreased by $6.7 million primarily due to lower home closing volume related to the Latitude Margaritaville Watersound unconsolidated joint venture.

●The Company placed 1,380 homesites under contract in the first quarter of 2026 bringing total homesites under contract to 3,204 as of March 31, 2026, as compared to 952 homesites under contract as of March 31, 2025.

●In the first quarter of 2026, the Company funded $20.7 million in capital expenditures, paid $9.2 million in cash dividends, repurchased $5.0 million of the Company's common stock and repaid $10.9 million of debt.

●Cash and cash equivalents balance increased to $136.3 million as of March 31, 2026, as compared to $129.6 million as of December 31, 2025.

Panama City Beach, Florida – (April 29, 2026) – The St. Joe Company (NYSE: JOE) (the “Company,” “We,” or “Our”) today reports first quarter 2026 results.

Jorge Gonzalez, the Company’s President, Chief Executive Officer and Chairman of the Board, said, “Building on a record year in 2025, the first quarter 2026 revenue of $99.1 million was the Company’s highest first quarter revenue outside of the one-off timberland sale in 2014.  In addition, we continued to successfully execute our strategy of growing recurring revenue as evidenced by the first quarter record of $44.7 million in hospitality revenue and $14.7 million in leasing revenue, which together accounted for 60% of the total revenue in the quarter.  In addition

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to the growth in our recurring revenue, we are improving profitability, as evidenced by the increase in margins in hospitality and leasing.”

Mr. Gonzalez continued, “Even though our revenue and net operating income increased for the quarter, our net income decreased primarily because of a lower equity in income from unconsolidated joint ventures, which was primarily caused by a lower home closing volume related to the Latitude Margaritaville Watersound unconsolidated joint venture.  Residential projects of that scale and longevity have an ebb and flow of volume over time caused by many factors, including mortgage interest rates. The community has 2,273 occupied homes and is located in the middle of the Bay-Walton Sector Plan where there were previously only timberlands.  Those residents are now creating demand for commercial goods and services in our emerging Watersound West Bay Center, located at the entry to the Latitude Margaritaville Watersound community, as evidenced by the commencement of development of a new Publix grocery store.  The community is planned for a total of approximately 3,700 homes that are expected to generate additional consumer demand for goods and services.  As of March 31, 2026, our cumulative earnings from the Latitude Margaritaville Watersound unconsolidated joint venture totaled $92.1 million in addition to the payments made to us for the initial land contribution.  As we previously indicated, in addition to the financial performance, our business decision to develop the Latitude Margaritaville Watersound community was based on several factors, including creating energy in a part of our land holdings where there previously was none and creating consumers for our commercial leasing portfolio. The Watersound West Bay Center is planned for a minimum of 500,000 square feet of leasable space, which by itself would represent an increase of approximately 40% to our current commercial leasing portfolio.  We believe there are other benefits to the creation of consumers at the Latitude Margaritaville Watersound community, including our planned marina on the Intracoastal Waterway as well as our real estate brokerage, insurance agency, and title insurance agency businesses.”

Mr. Gonzalez concluded, “In the first quarter 2026, we were pleased to announce the execution of a contract with PulteGroup for up to 2,653 homesites in our most recently approved Detailed Specific Area Plan.  PulteGroup is new to our market and represents our third national homebuilder, joining D.R. Horton and Toll Brothers.  PulteGroup is the third largest homebuilder in the country, and their decision to enter our market is in recognition of the growth of our area and of the thoughtfully planned residential communities we are creating.  In the first quarter, we also